C153656 Paid in Full Contract

• Contract/PO #: C153656
• Contractor Name: Loloff Lateral Ditch Company
• Contract Type: Loan
• County: Weld
• Loan Projects - Doc Type: Contract Documents

DE . OF AGENCY NAME
Water Conservation Board
DEPARTMENT OR AGENCY NUMBER
PDA
ROUTING NUMBER
9q&27
S 71,500
VC
VP1/11"‘)-13014 CONTRACT
CONTRACT,made this a�,,dday of 1993,by and between the State of Colorado for the use
and benefit of the Department of NATURAL RESOURCES
(COLORADO WATER CONSERVATION BOARD)
hereinafter referred to as the State,and The Loloff Lateral Ditch Company
24205 WCR 57, Kersey, CO 80644 hereinafter referred to as the contractor/Contractor
or Borrower.
WHEREAS,authority exists in the Law and Funds have been budgeted,appropriated and otherwise made available and a sufficient
unencumbered balance thereof remains available for payment in Fund Number 424 .OrganizationgYYYY,Appropriation K.'S
W /53654
Program TRC,Object Code 5120,Contract Encumbrance Number, e/536 5Y ;and
WHEREAS,required approval,clearance and coordination have been accomplished from and with appropriate agencies;and
WHEREAS, pursuant to the provisions of 37-60-119 and 37-60-120, Colorado Revised
Statutes, the State is authorized to loan money for the construction of water projects for the
benefit of the people of the State provided that the Contractor assures repayment of that
money; and
WHEREAS, the Contractor is a duly constituted non-profit ditch company in the State
of Colorado and it wishes to replace its water delivery pipeline,hereinafter sometimes called
the project, for the benefit of its stockholders in Weld County, Colorado, at an estimated
cost of One Hundred Forty-Two Thousand Dollars ($142,00); and
WHEREAS, the State now desires by this project contract to loan money for the
construction of said project upon mutually agreeable terms and conditions, subject to the
availability of funding for that purpose; and
loloff.con
WHEREAS, pursuant to the Contractor's By-Laws, the Contractor has authority to
contract to borrow money provided that a Resolution be duly passed by the Board of
Trustees and to levy assessments assuring repayment of the State according to the terms of
the contract; and
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